DSM Sells Fertilizer and Melamine Businesses to Egyptian Firm

DSM has agreed to sell its fertilizers and melamine businesses to Orascom Construction Industries (OCI; Cairo) for €310 million ($415.4 million) on a cash and debt-free basis with effect from January 1, 2010. The businesses in 2009 had combined sales of €489 million and an Ebitda and Ebit loss of €19 million and €55 million respectively. The sale is expected to close in the second quarter of this year, subject to regulatory approvals. The acquisition by OCI will reinforce the Egyptian company as a leading fertilizer producer and give it an...

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